Estimated Reading Time: 4 Minutes Self-Confidence is an essential element in any business venture. This is especially true if your business is day trading, since psychology plays such a major role. In this blog post, I want to share a few things that helped me change and improve my mindset as a day trader, develop […]

Below is a list of trading tools and resources that I personally use. Thought this might be helps. I’ll update this page frequently, so make sure to bookmark this page and check it out from time to time. Cool Tools http://clocx.net – The famous clock that you see on our screens. It’s a “floating clock” […]

Have you heard of the “Trader Tax Status?” Do you know that as as trader, there are many tax breaks and benefits available to you? Unfortunately most traders don’t take advantage of all available tax breaks. This could cost you thousands! It doesn’t matter if you are new to trading or have been trading for […]

Estimated Reading Time: 3 minutes I often receive emails asking me to recommend some trading books. Over the years, I have bought dozens of trading books, and here are my 5 favorite books: Reminiscences of a Stock Operator One of my favorite trading books. This is the story of Jesse Livermore, a remarkable character who […]

Estimated Reading Time: 6 minutes These days there are many people who want to become a trader. But as you know, it’s not that easy! Every day I am getting emails from traders who tell me that they have invested a lot of money on systems, strategies and courses, spent countless hours in front of […]

Estimated Reading Time: 4 minutes A solid trading plan is the cornerstone of your trading business. Unfortunately many traders think that all they need is a trading strategy. This is NOT the case! Let me explain the difference between a trading strategy and a trading plan. A (Day)trading strategy tells you when to enter and […]

I found THIS today on the Internet and wanted to share it with you. I think it’s pretty funny. As part of my continuing commitment to public service, here are the answers to the biggest questions about the markets. You can finally stop asking them. Why did the market do X? There are so many participants […]

Ok, I have to share THIS video with you. Here’s what happened: Yesterday morning I was in our Live Trading Room. As always, Rollie started with his famous pre-market analysis, and then he handed it over to me to trade the markets. As usual, before handing the mic and the screen off to me, he […]

Nobody wants to hear about the risks of day trading. As traders, our goal is to make money. Lots of money – hopefully. We day trade to win, right? No serious trader is trading to lose. People who tell me that they don’t care if they win or lose are not serious traders. They are […]

Last night we did a webinar with Robert Green, the leading authority on trading tax. In this webinar Robert talked about “Tax Benefits From Trading Futures & Other Section 1256 Contracts:” Section 1256 includes many instruments: Not just futures contracts, but also non-equity options including options on indexes, options on futures, most ETF options, broad-based […]

You might have heard the saying “The Trend Is Your Friend” and that you should “Trade The Trend.” But sometimes this is easier said than done. In this article I will show you an easy easy to identify and trade the trend. How To Identify A Trend Way back in the 90s I used fundamental […]

In the first article of the series “How To Be A Trader” we talked about the mindset of a trader and the importance of having realistic goals. You have learned that consistency is more important than windfall profits every now and then, and that a weekly target of only $100 – $200 can compound to […]

Estimated Reading Time: 5 minutes. I receive many emails asking “How much Money Can You Make Day Trading?” In this article we will talk about realistic expectations of how much money you can make when day trading. The Mindset of a Trader Many people are intrigued by the idea of “making millions in minutes” while […]

As a day trader, you should know the most important support and resistance levels. Have you ever entered a trade, just to watch the market move immediately against you? Did you feel like there was some unseen wall, or some sort of “magic” price level that everyone knew about except for you? In reality there’s […]

The story of the “Turtle Traders” is probably one of the greatest trading stories of all times. It started with Richard Dennis and Bill Eckhardt, two great commodity traders, who argued about whether or not great traders were born or made. Richard believed he could TEACH people to become great traders, and Bill thought that […]

On August 1, 2006 the agricultural futures started trading side-by-side, and a few months later the volume in the electronic grains surpassed the volume of the pit traded contracts. The volatility and nice trends attracted many traders, and today day trading the grains is more popular than ever. However, when trading the grains you should […]

Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. The lower the day trade margin, the higher the leverage and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.